Buying Land To Build A House On

If the land is part of a planned community, then it's probably in good shape for building your custom home.

If you're planning on buying a home, then one of the options that you should consider exploring is buying the land to build a home on. This way, you can build a custom home that has all of the features that you're looking for. If this is the route that you decide to take, keep in mind that even though you no longer have to go through the standard home buying process of looking at real estate listing after real estate listing in search of your dream home, there is still a lot involved in finding a good piece of land on which to build.

The following are a few things that you should keep in mind when buying land on which to build a custom home.

What will the location look like in the future?

The last thing you're going to want to do is buy a piece of land and invest in a custom built home only to find that there's going to be a freeway built across the street with an off-ramp that leads right to your doorstep. Do a little research on the area around the land to find out what its future entails. Keep in mind that future construction isn't always bad; for example, it's usually a good thing if a school is going to be built in the same neighborhood - or if there are plans for a mall a mile or two away.

How suitable is the land for building a home?

If the land is part of a planned community, then it's probably in good shape for building your custom home. However, you should find out just to make sure. Some of the things to watch out for include ground that needs to be excavated in order to build a foundation or land that's sloped, which can cause drainage problems if not accounted for. You can get around such flaws in the land you buy, but it may end up costing you extra.

Also make sure the land has access to utilities including water, waste, power, and gas among others. Without access it can become very costly to have the companies extend access to your property.

What type of zoning restrictions and ordinances and covenants are in place?

Zoning laws determine what you can and can't do with your land. Finding out what the zoning laws are for the area your land occupies is important. In a worst case scenario, you may not be able to build a residential home on the land you've bought because of the zoning restrictions. Make sure the land is zoned for residential before purchasing it.

Ordinances and covenants are similar to zoning restrictions except that they are established by the Homeowner's Association that governs the area the land is in. Ordinances and covenants usually require you to abide to smaller restrictions, such as the look of the house. This usually is only relevant if you are buying land in an existing development.

What kind of road access does the land have?

It's not going to be a very convenient place to live if you don't have access to public roads from the land you want to buy. This is generally only an issue in extremely rural areas. However, if access to a main road is limited or only available via private access, it could result in a number of issues. For example, you may not have access to city water or sewage, which means that you may need to build a separate septic system on your land.

If the land is land-locked, meaning that the only way you have access to a public road is via a private road, then you may need to establish an easement with the owner of the private road that you will need to use. If there's a chance that an easement is going to be needed, you will need to speak with a real estate lawyer.